Real Money

Today's Small-Cap Winners & Losers

Innodata signs $9 milion worth of service contracts.

Innodata Isogen ( INOD) soared almost 60% after the Hackensack, N.J.-based Internet-technology company said it had signed about $9 million worth in service contracts, mostly with major publishers, bringing known 2007 revenue to about $40 million so far. Shares were up $1.21 to $3.23.

Insmed ( INSM) shares were leaping after the Italian government requested that its Iplex drug be made available for treatment of Lou Gehrig's disease in Italy. Cephalon ( CEPH), which holds the European patent rights to that use of Iplex, will distribute the drug through a government program, and Insmed will see unspecified payments from the Italian Health Authorities. Richmond, Va.-based Insmed was rising 18 cents, or 17.5%, to $1.21. Cephalon shares were dipping 66 cents to $69.56.

Cosi ( COSI) gained after the restaurant chain estimated that 2006 losses had narrowed by a dime a share from 2005 to 18 cents. Analysts are seeking a loss of 25 cents, according to Thomson Financial. Revenue totals for the quarter and year won't quite meet Street projections, but the Deerfield, Ill., company also forecast 2007 earnings between 8 cents and 12 cents a share, which would quash the downside consensus. Shares were adding 62 cents, or 11.8%, to $5.89.

Scientific-instruments maker LeCroy ( LCRY) fell after it predicted $38 million revenue in the fiscal second quarter ended Dec. 31 -- $4 million less than last year and $4.5 million short of analysts' projections. On a GAAP basis it will probably lose $8 million, including costs related to its October acquisition of Catalyst Enterprises and stock-based compensation, reversing $2.2 million profits a year ago. Shares were down $1.28, or 11.2%, to $10.15.

Active Power ( ACPW) sank after the Austin-based power-products maker announced it will conduct an internal review of its historical stock option grants, which could delay the filing of its annual report should any "significant issues" arise. Shares were losing 20 cents, or 7.7%, to $2.40.

Adaptec ( ADPT) dropped after preliminary fiscal third-quarter results were short of expectations. The Milipitas, Calf., storage company expects losses by both GAAP and non-GAAP measures, missing the penny-a-share earnings estimate and the company's own prior guidance. Sales, likely between $60 million and $61 million, will also miss the $72.6 million Wall Street projections. Shares were sliding 34 cents, or 7.6%, to $4.16.